Yahoo could pay you $358 after a massive data breach.
What We Know:
- Yahoo experienced multiple data breaches between 2013 and 2016, which they believe to have affected over 3 billion Yahoo account holders. As a result, you may be eligible for free credit monitoring or $358 in cash if you qualify.
- The California courts must approve the settlement before they require Yahoo to pay out any funds. If they complete the settlement, Yahoo will have to cough up approximately $117.5 million to its users.
- If you’d like to find out your eligibility and submit a claim, you can go directly to yahoodatabreachsettlement.com. The settlement page has asked users to choose between four different forms. These forms include account holder claim form, paid user claim form, small business user claim form, and Israeli claim form.
- If you opt out of receiving the cash, Yahoo will provide you with AllClear’s free credit monitoring for a maximum of two years. If users can prove that they already have a valid credit monitoring for a minimum of one year, they’ll have the option to claim $100 instead.
- Although users who strictly want to claim cash are expected to receive $358 per person, this amount can vary. They base settlement payouts on the amount of people who file valid claims. If fewer people file, there is a possibility of receiving more than the projected amount. However, in most cases, a greater amount of people file, which ultimately means a lower payout for everyone.
- Unfortunately, settlement approval is a lengthy process, which could take anywhere from a few months to over a year. The deadline to submit a claim form through the mail or online is July 20, 2020.
Although $358 may sound amazing to our ears having your private and sensitive information leaked is alarming and data breaches seem to happen frequently.